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this is a much more global story. i think a lot of backdrop in europe and china has some improving trends in it that are behind this. >> if the market is such a great predictor, tell me where it was in beginning of 2008. then we had a total collapse. so i don't buy -- >> my response would be look where it was in march of '09 when you could have -- [ overlapping speakers ] the valuations weren't reasonable then. they are cheap now and even cheaper outside the united states. >> yeah. you just made my case for why it is i feel like going outside the united states. i'll let america settle it and figure it out on its own. >> all right. john, what are your clients telling you right now? jeff just said i think it was over the weekend that so many of their customers are clenched right now. that they're just waiting to see what the resolution of the fiscal cliff is that they're holding back on orders. is that the case with some of your clients as well? >> well, i think right now we haven't received the clarity of the election we were hoping for. i think both sides republicans and democrats are bas
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